BJP leader Subramanian Swamy again strikes at the hidden assets of former Finance Minister P Chidambaram’s family. After exposing son Karti’s 21 secret foreign bank accounts, this time Swamy brought out the details of Chidambaram’s hidden property in Cambridge in UK found by Income Tax’s Investigation Wing. Revealing the details of a 200-page Income Tax analysis on the seized hard disks of Karti’s companies, Swamy detailed more than 20 instances of blatant corruption and illegal money flow and of properties purchased abroad.
Addressing a press conference in Delhi on Tuesday, Swamy shared his seven-page letter to the Prime Minister with the media, providing the major findings of Income Tax’s Chennai Unit…
“The Income Tax (IT) which seized the hard disks from Karti’s companies found that P Chidambaram, wife Nalini Chidambaram, son Karti and his wife Srinidhi, had in 2008 jointly purchased a property and a big palatial house in Cambridge town in UK. As per the seized Income Tax documents, the property bought by P. Chidambaram and family is at: 5, Holben Close, Cambridge, U.K. CB237AQ. This huge property and home were purchased from Edmund Suley Holt and Heather Holt, and the money for the purchase was drawn from Karti’s personal account in London’s Metro Bank account number 16714313”. Chidambaram declared only wife Nalini’s share in the Cambridge property. Neither he nor Karti declared their portion in Cambridge land deal.
“Chidambaram never declared this property in any of his mandatory affidavits as a candidate for elections to Lok Sabha or Rajya Sabha or as MP or Minister. Karti also has not declared this. This is plain corruption under Section 13 (1) (e) of the Prevention of Corruption Act,” said Swamy in a letter to Prime Minister Narendra Modi, urging for immediate CBI-ED probe and seizure of hidden properties and black money parked by Chidambaram and family.
Addressing a press conference in Delhi on Tuesday, Swamy shared his seven-page letter to the Prime Minister with the media, providing the major findings of Income Tax’s Chennai Unit, complaining that Finance Ministry is not allowing officers to act on this report for the past six months.
Income Tax also found several instances of money flow to Karti’s companies from several cases of FIPB approval granted by Chidambaram. Jailed media baron Peter Mukerjea had paid more than Rs. Two crores to Karti’s company Advantage Strategic Consulting Pvt Ltd and other firms abroad.
The documents unearthed by Income Tax show that ASCPL received money from many companies when their FDI investment files were with FIPB and CCEA during Chidambaram’s tenure as Finance Minister.
The joint raid of Income Tax and Enforcement Directorate (ED) was conducted in December 2015 in connection with the Aircel-Maxis scam. The investigators have seized several documents and hard disks from Karti’s offices.
The investigators found that Karti’s company had entered into a deal with a Russian bank called Nazprom and became the bank’s agent for dealing with the Public Sector Undertaking (PSU) Indian Overseas Bank (IOB). The agreements with the Russian bank seized show that Karti’s firm used to get five percent commission for each transaction! After Chidambaram became the Home Minister, Karti’s firm also got money from a South African firm engaged for providing security arrangements for Indian Premier League (IPL) Cricket.
The documents unearthed by Income Tax show that ASCPL received money from many companies when their FDI investment files were with FIPB and CCEA during Chidambaram’s tenure as Finance Minister. The companies which transferred money to Karti’s ASCPL are Claris Life Sciences, Diageo Scotland Limited, which acquired fugitive Vijay Mallya’s UB Spirits, Katra Group, Arcelor Mittal linked Saksoft, Reflections belonging to Spark Capital Advisory Private Limited.
The IT has unearthed that large sums of money were transacted through Karti controlled Advantage Strategic Consulting Private Limited Company’s bank accounts in Singapore to buy properties in UK like the purchase of an 88 acres farmhouse, known as Surridge Farm in Somerset in UK and another property in Cambridge, at Ceres, 29, Meade Hose at Cambridge.
The worst of all this was that Karti used to take money for fixing appointments with father Chidambaram.
The Income Tax – ED joint raids found that after the Aircel-Maxis deal, there was a large money flow into and out of the ASCPL Singapore subsidiary Company. This money was used to buy huge properties, hotels, farmhouses, vineyards, stud farms and race horses and Tennis Courts in 14 countries, alleged Swamy. Investigators’ report say these secret assets are worth more than Ten Thousand Crores ($1.5 billion), said Swamy, blaming the Finance Ministry for not allowing honest officers to act.
“In all of Karti’s numerous sham companies, including ASCPL, curiously there are five common Directors: C B N Reddy, Bhaskar Raman, Mohanan Rajesh, Ravi Viswanathan and V Padma. The Income Tax also found that all these five persons have entered and executed an extraordinarily suspicious Will, stating that they owe all properties and assets to Karti or his daughter Aditi, out of “respect and love” for P Chidambaram and son! This shows that these five persons are nothing but benamis of son Karti and father Chidambaram,” said Swamy giving the details of curious agreements unearthed by Income Tax from Karti’s computers.
The worst of all this was that Karti used to take money for fixing appointments with father Chidambaram. In a bizarre payoff, the British company Diageo Scotland Limited which acquired fugitive Vijay Mallya’s UB Spirits paid $15,000 as “Service Charges” to Karti’s ASCPL for fixing appointments with then Prime Minister Manmohan Singh, Finance Minister Chidambaram. Diageo’s email copies are available with IT, “thanking” Karti for fixing appointment of company owner Lord Blyth of Diageo with Prime Minister Manmohan Singh and Finance Minister Chidambaram. These emails also have as an attachment the $15,000 payout receipt as Service Charges for fixing appointments with PM and FM,” said Swamy.
Subramanian Swamy’s detailed seven page letter to Prime Minister Narendra Modi, outlining the findings of Income Tax is published below:
1. The conversion rate used in this article is 1 USD = 66.20 Rupees.
2. Text in Blue points to additional data on the topic.
Latest posts by Team PGurus (see all)
- Rahul Gandhi inducts Robert Vadra’s business partner Sreenivasan as new AICC Secretary - June 24, 2018
- Ali Baba and the Forty Thieves – a modern day tale about Indian markets - June 23, 2018
- After taking cognizance under Black Money Act, Special Court summons the corrupt family of Chidambaram on June 25 - June 20, 2018